Code of Conduct

People's United Bank has developed a written Code of Conduct, which articulates People's United philosophy with
respect to ethical conduct in the workplace and establishes standards for behavior, including standards with
respect to compliance with law and regulation, actual or potential conflicts of interest, fairness, insider
trading, use of People's United or customer information and public and financial disclosure. This Code of Conduct
is applicable to all employees, officers and Directors of People's United Bank and its subsidiaries. Directors
and certain officers and employees may be subject to additional policies and other requirements related to their
positions at People's United.